U.K., Eurozone Bond Yields Rise as Oil Prices Increase
Dow Jones
Aug 14
0738 GMT - Yields on U.K. and eurozone government bonds climb, tracking moves in U.S. Treasury yields as higher oil prices increase concerns about the risk of prolonged inflation. The price of Brent crude rises 1.5% to $88.38 a barrel after U.S. Defense Secretary Pete Hegseth told reporters Thursday the U.S. could maintain its blockade of Iranian ports indefinitely. Additionally, an auction Thursday saw U.S. 30-year Treasury bonds sell at a yield of 5.216%, the highest in 25 years. This highlights the high compensation investors are demanding for buying long-dated sovereign bonds due to fiscal and inflation concerns. Ten-year gilt yields climb 3.3 basis points to 4.985%, Tradeweb data show. Ten-year Bund yields rise 2.6 basis points to 3.160%.
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